Which do you think is the better money: gold, fiat, or Bitcoin? Comment below and don't forget to like this video and subscribe! Sign up for an IRA with ITrust today using this link: itrust.capital/David FOLLOW LAWRENCE WHITE: Better Money: www.amazon.com/Better-Money-Gold-Fiat-Bitcoin/dp/100932747X Twitter (@lawrencehwhite1): twitter.com/lawrencehwhite1
BTC will be waaaaay better than gold as money, the main problem right now is volatility, that will dissipate over the next 10yrs or so leaving BTC to increase in value at a relatively stable rate forever, the BTC hard supply but infinite divisibility guarantees this.
*shitty money.. imagine someone paying you with gold in today’s world. I would have to assume it is fake. Bitcoin can’t be forged and is verified on chain without the need of analytic equipment
Gold will always be worth approximately the same value as it has been for the last few thousand years, Bitcoin will appreciate in value rather than holding value. I agree Bitcoin is volatile at present but I’ll take the rocky road upwards instead of the flat value of gold or declining value of fiat.
One ounce of gold is around 2K a ounce. How would that be lugging around pockets full of gold ? How many people carry around 2K worth of fiat ? Get over it !!! Paper Money don’t hold !!!
An excellent interview and guest, thanks David! I’m long precious metals and intend to purchase some bitcoin as a speculation. I love the idea of cryptocurrency but it’s too volatile and it makes me a bit nervous due to its intangible nature
1. Not once did he mention that deficit spending is responsible for inflation. It's just all the Fed,... which means this guy A. is a quack, B. a far left wacko and/or C. has an interest in gold some how.. If the gold standard were so great,.. we wouldn't have tried and gotten off of it several times in our history. Gold can't expand and contract with the needs of the economy. And why we had to abandon it. 2. Money doesn't have to be a store of value. Having to pay for something in a medium that has to have an equal value to the thing being bought is A. a barter and B. a waste of resources. C. if you consider it a currency bitcoin proves this. bitcoin has no intrinsic value. It pays no interest or dividends, It showed in 2020 it's not a hedge against inflation. Recently it showed it's not a hedge against geopolitical uncertainty when Israel was attacked, gold and oil rose and yields fell,.. whie bitcoin fell. It's very volatile so useless as a currency. It and other cryptos are created by guys in a garage. Which are ripe for corruption,.. just see FTX and SBF. I mean if you think fiat currency is bad,... cryptos are fiat currency to an exonential. And this guy is a professor of economics???? 3. Not once did he talk about reducing deficit spending or balancing the budget or a balanced budget amendment,.. but he's all for Rube Goldberg currencies that are worthless or have proven to fail in the past. This insane senile ole joe admin and the demcorats A. shut down the fossil fuel industry (the lifeblood of the economy, and then B, have continued to unnecessarily spend 50% MORE in 2021, 22, 23, 24,.. (all of it deficit spending adding trillions to the debt each year),...years after the pandemic is over,...... than was spent the year before the pandemic started,... and we're not even in a recession. That's what caused inflation to go to 9%. When Trump left office, the economy was growing at 6% with under 2% inflation. The Fed only reacts to bad fiscal policy with the few demand side tools it has. It doesn't putagunto senile ole joe admin and the demcorats' heads (and pull the trigegr unfortunately) and force them to steal from tax payers and deficit spend like drunken sailors to buy votes for demcorats. It didn't open the borders and allow millions to saunter in the bankrupt the welfare, the medical, the school systems not to mention medicare, medicaid, and SS. It didn't incompetently withdraw from Afghanistan and embolden putin to attack Ukraine drain more money from tax payers, disrupt supply chains, embolden china to attack Taiwan giving demcorats another excuse to drain the tax payers' treasury on repatriation (why should tax payers pay companies that make billions in profits each year to build plants in the US???),.. embolden Iran and hamas to attack Israel requireing more deficit spending The Fed didn't do any of this. The monetary shithole we're in is the result of abysmal fiscal and geopolitical policy. If it walks like a duck, looks like a duck and quacks,.. this professor is a goldbug quack. I bet he has a website somewhere where you can buy gold and he get's a commission or something.
Let me help you with a real foundation rather than a goldbug platitude. 1. Not once did he mention that deficit spending is responsible for inflation. It's just all the Fed,... which means this guy A. is a quack, B. a far left wacko and/or C. has an interest in gold some how.. If the gold standard were so great,.. we wouldn't have tried and gotten off of it several times in our history. Gold can't expand and contract with the needs of the economy. And why we had to abandon it. 2. Money doesn't have to be a store of value. Having to pay for something in a medium that has to have an equal value to the thing being bought is A. a barter and B. a waste of resources. C. if you consider it a currency bitcoin proves this. bitcoin has no intrinsic value. It pays no interest or dividends, It showed in 2020 it's not a hedge against inflation. Recently it showed it's not a hedge against geopolitical uncertainty when Israel was attacked, gold and oil rose and yields fell,.. whie bitcoin fell. It's very volatile so useless as a currency. It and other cryptos are created by guys in a garage. Which are ripe for corruption,.. just see FTX and SBF. I mean if you think fiat currency is bad,... cryptos are fiat currency to an exonential. And this guy is a professor of economics???? 3. Not once did he talk about reducing deficit spending or balancing the budget or a balanced budget amendment,.. but he's all for Rube Goldberg currencies that are worthless or have proven to fail in the past. This insane senile ole joe admin and the demcorats A. shut down the fossil fuel industry (the lifeblood of the economy, and then B, have continued to unnecessarily spend 50% MORE in 2021, 22, 23, 24,.. (all of it deficit spending adding trillions to the debt each year),...years after the pandemic is over,...... than was spent the year before the pandemic started,... and we're not even in a recession. That's what caused inflation to go to 9%. When Trump left office, the economy was growing at 6% with under 2% inflation. The Fed only reacts to bad fiscal policy with the few demand side tools it has. It doesn't putagunto senile ole joe admin and the demcorats' heads (and pull the trigegr unfortunately) and force them to steal from tax payers and deficit spend like drunken sailors to buy votes for demcorats. It didn't open the borders and allow millions to saunter in the bankrupt the welfare, the medical, the school systems not to mention medicare, medicaid, and SS. It didn't incompetently withdraw from Afghanistan and embolden putin to attack Ukraine drain more money from tax payers, disrupt supply chains, embolden china to attack Taiwan giving demcorats another excuse to drain the tax payers' treasury on repatriation (why should tax payers pay companies that make billions in profits each year to build plants in the US???),.. embolden Iran and hamas to attack Israel requireing more deficit spending The Fed didn't do any of this. The monetary shithole we're in is the result of abysmal fiscal and geopolitical policy. If it walks like a duck, looks like a duck and quacks,.. this professor is a goldbug quack. I bet he has a website somewhere where you can buy gold and he get's a commission or something.
I wouldn't pay my rent in Gold or Bitcoin. They are both assets with stores of wealth and held for the longterm. Portions of the two used for major purchases and held in trusts over the longterm.
Technically, Gold is Gold and hasn't changed. One ounce today is the same as one ounce 5,000 years ago. The dollar is losing value and will require $2,400 to buy the same once.
Ask for a loan at a bank…with good credit they give you free “fiat” from where there was none….poof…just like that…💸…infinite fiat can be born or made up through loans at ANY corner bank…
Bitcoin's unique attributes, including its fixed supply and transparency, could position it as a reliable metric for assessing value and potentially play a more significant role in the measurement of economic activities.
its fixed supply.. and there are HOW MANY Satoshi's on one BTC - ohh yes, 100,000,000 per coin.. so, 21.000.000 x 100.000.000 is 2.7e+16 - that should retain exclusivity for a few 100 years or so
don't believe it....................Yes, the guys very intelligent - but he's basing all his theory on faked (by the FED and G'ments) numbers - where as ppl like Andy Shecktman and Robert Kiyosaki use real world info. big difference
For those steeped in fiat all their 90 years like Munger and Buffett, who evolved to be super successful in that system regardless of how corrupt and ruled by greedy psychopaths, it will never be advantageous to them to even consider a more effective, efficient and fair money system that supports and even enforces ethics and less cheating of the people...
I'm surprised how myopic the discussion on bitcoin was. Bitcoin is trashed as not being "stable" -- but the measure of "stable" is the value of the currency PAIR of BTC/USD. He used the example of the tragedy of trying to pay your rent in bitcoin, but if your rent is EXPRESSED in bitcoin, there is no sudden shift in its "value." Of course, by definition NO asset will be "stable" in a trading pair with USD, and that's the POINT. The future of USD doesn't look good and we don't want to have a currency that tracks it. The whole discussion seemed lacking in depth to me and I'm not even a "currency guy."
The size of the world economy is about 80trln USD. The whole value of ALL mined world in the world is max 10trln USD, and usable for money gold is about 2-5trln. The world cannot go back to the gold standard no more, we just grew too big, it is no longer possible. Good old days are gone, forget them, face the reality. Inflation is here to stay, and we have to adapt. The key is to keep it low and predictable at 2%.
dollar (n.) “monetary unit or standard of value in the U.S. and Canada," 1550s, daler, originally in English the name of a large, silver coin of varying value in the German states, from Low German daler, from German taler (1530s, later thaler), abbreviation of Joachimstaler, literally "(gulden) of Joachimstal," coin minted 1519 from silver from mine opened 1516 near Sankt Joachimsthal, town in Erzgebirge Mountains in northwest Bohemia. German Tal is cognate with English dale. The spelling had been modified to dollar by 1600.
A medium of Exchange= Currency. Money is more than that. Money must be also a store of value. Fiat currency is a poor store of value since it is prone to fluctuating interest rates, government fiscal policy and trade imbalances. IMO Gold is best. BTC may eventually prove to be good money, however at this point it is far too volatile. Also BTC is completely depended on a network to be viable for transfer or payment. Fiat does not even enter into the argument of "money". Fiat is merely a form of "currency".
For the first time, I heard in this interview that money doesn't have to be a store of value. Other assets do that better (e.g., land, gold). That makes sense, too, which allows fiat to serve as money, a medium of exchange and unit of account. Maybe that's all that's required for widespread acceptance and use, as long as people hold their wealth elsewhere.
Perhaps the best book for an understanding of what money is I recommend The Creature from Jekyll Island by G. Edward Griffin. I believe the fellow in the interview was wrong and misleading in saying that fiat is a store of value. If you had just kept $1.00 US from its inception in 1913 (under your mattress)then today the purchasing power of that dollar would be roughly 2 cents. Hardly a store of value. Fiat is a form of currency and is being perpetrated as money.@@goldilocksminer8393
I like gold and btc. Gold has no physical competitor, Btc problem is it has a lot of tech competition and more coming $eth $link $pls. Btc mining also dominated by tradfi now so its not decentralized like gold is as held by all major govts. US govt can’t get their gold “hacked”
Bitcoin is trustless, that's the whole amazing invention. It's a money where you don't have any intermediary to trust, only verify. No government, no corporation, no angry seagull, nothing.
1. Not once did he mention that deficit spending is responsible for inflation. It's just all the Fed,... which means this guy A. is a quack, B. a far left wacko and/or C. has an interest in gold some how.. If the gold standard were so great,.. we wouldn't have tried and gotten off of it several times in our history. Gold can't expand and contract with the needs of the economy. And why we had to abandon it. 2. Money doesn't have to be a store of value. Having to pay for something in a medium that has to have an equal value to the thing being bought is A. a barter and B. a waste of resources. C. if you consider it a currency bitcoin proves this. bitcoin has no intrinsic value. It pays no interest or dividends, It showed in 2020 it's not a hedge against inflation. Recently it showed it's not a hedge against geopolitical uncertainty when Israel was attacked, gold and oil rose and yields fell,.. whie bitcoin fell. It's very volatile so useless as a currency. It and other cryptos are created by guys in a garage. Which are ripe for corruption,.. just see FTX and SBF. I mean if you think fiat currency is bad,... cryptos are fiat currency to an exonential. And this guy is a professor of economics???? 3. Not once did he talk about reducing deficit spending or balancing the budget or a balanced budget amendment,.. but he's all for Rube Goldberg currencies that are worthless or have proven to fail in the past. This insane senile ole joe admin and the demcorats A. shut down the fossil fuel industry (the lifeblood of the economy, and then B, have continued to unnecessarily spend 50% MORE in 2021, 22, 23, 24,.. (all of it deficit spending adding trillions to the debt each year),...years after the pandemic is over,...... than was spent the year before the pandemic started,... and we're not even in a recession. That's what caused inflation to go to 9%. When Trump left office, the economy was growing at 6% with under 2% inflation. The Fed only reacts to bad fiscal policy with the few demand side tools it has. It doesn't putagunto senile ole joe admin and the demcorats' heads (and pull the trigegr unfortunately) and force them to steal from tax payers and deficit spend like drunken sailors to buy votes for demcorats. It didn't open the borders and allow millions to saunter in the bankrupt the welfare, the medical, the school systems not to mention medicare, medicaid, and SS. It didn't incompetently withdraw from Afghanistan and embolden putin to attack Ukraine drain more money from tax payers, disrupt supply chains, embolden china to attack Taiwan giving demcorats another excuse to drain the tax payers' treasury on repatriation (why should tax payers pay companies that make billions in profits each year to build plants in the US???),.. embolden Iran and hamas to attack Israel requireing more deficit spending The Fed didn't do any of this. The monetary shithole we're in is the result of abysmal fiscal and geopolitical policy. If it walks like a duck, looks like a duck and quacks,.. this professor is a goldbug quack. I bet he has a website somewhere where you can buy gold and he get's a commission or something.
I would say the comment ‘we trust the Bitcoin supply will remain consistent’ is wrong, we can prove the supply will remain consistent. It’s like saying you trust that 2+2=4.
I love your channel, but does there need to be a commercial every 2.5 min? I get it, it’s how it’s monetized. This is the only channel with this frequency of commercials. It because disruptive to the content when it’s perpetually interrupted. Maybe dial it back a touch.
After the next halving Bitcoin will have a lower inflation than gold. Bitcoin is the hardest, most stable money ever created. We know the issuance of it, it's built into the code. Bitcoin issuance makes it the least volatile money when you view it on the Bitcoin network. When you convert that wealth into shitty fiat of course the value fluctuates.
I think the issue is if you get BTC and someone hacks that business or you lose your wallet keys you lose it all on gold shares or physical gold it’s a lot harder to be scammed so I say gold!!!
I got btc on 25.mai.2024 price of 112k then a drop.. 1month chart.. personal scrypt made.. from start doing the same thing..this is last chance for every coin..
What makes for a good currency is availability, transferability and stability. BTC is 2 for 3. Gold is good for stability and availability. Corn needs to be pegged to gold, period.
Bitcoin will not only stabilize but will also continue to grow in a stable fashion infinitely due to its divisibility properties. Stabilization doesn’t mean no growth, just low volatility.
Thinking of buying Canadian gold mine stocks?Please remember CANADA government sold all its gold years ago...so all gold companies could be exproprated if shit hits the fan....
If only these old money people understood there are about 50 early day Bitcoin OG's that hodl 90% of the Bitcoin supply by mining it in 2009 on a regular PC....then im sure they would rather look at physical gold, because if Bitcoin goes to 1 million dollars you do not want these nerds to rule the world...
When supply chains fail, I'll laugh when you try to trade me gold or bitcoin for my gasoline, solar powered generators, non perishable food, water, ammo, guns, cigarettes, alcohol, weed, as those will be the best money. Thing is he is wrong about btc, kept my rent money in btc since 2013 now i dont have to worry about rent money. If the systems are up I want bitcoin as it will outperform gold. If the systems are down I dont want gold or bitcoin I want what I mention above.
Silver on the other hand takes up more space in your pockets. But it is worth over $20 a ounce at this time. How much Money do people actually carry around with them ? Maybe a tenth ounce of gold and 5 ounces of silver will give you 300 bucks. If you need more toss another ounce of gold in your pocket. That will give you around $2300 bucks. Very easy to carry.
Bitcoin should be a store of value, it shouldn’t be used for payments. Nobody uses their Gold or silver for payments. Nobody uses their real estate investment for payments
@@EE-gy1kfEverytime you see a merchant accepting Bitcoin for payments, it is instantly converted to dollars in the backend. Nobody wants to use BTC for coffee and all the bs like the pizza guy who spent thousands of BTC in 2010 for Pizza. BlackRock is not putting out an ETF because it expects users to spend it randomly, yes you can spend it. But just like Real estate, Gold, Art, you use them to store wealth. They are savings vehicles. You use your Bitcoin to get dollars for spending. Wealthy individuals do not sell their assets to spend dollars, you burrow against your assets and spend dollars. Assets are collateral
He said money that is a bad store of value, is just not good money but doesn't stop it from being money. I agree with you; he is describing currency as a unit of exchange and a bad store of value. Money is both a good store of value and a unit of exchange.
its a Pity David. I noticed theres BTC & Gold Biased advertisements and sponsorships tagged to your videos lately for the sake of $$$$$$$. Your videos now seems mostly BTC goldbiased. i had been following u since Kitco and thought your channel has been Robinhood style and impartial giving us the TRUTHs thats why u left kitco.. i was wrong.
This guest seems less self serving than I'd imagined so good job. Can we acknowledge that the dollar has been a good currency historically and remains so into the present and that its demise is still to be witnessed? Certainly the storm clouds look darker than ever but the current alternatives are bitcoin and gold which each have their issues.
The thing that scares me about bitcoin, is if our power grid goes down so does bitcoin So even if you "take it offline" No power = no bitcoin Physical gold is still king
yes, but unless you can buy direct from comex or nymex, you will pay around 8% higher for coins, even 10% for desirable coins.. so the first 10% price rise won't give any profit, only whatever is above that... so unless your timeline is around 5, 10, 15 years - gold can be a gamble
The no power scenario is the same with fiat currency, gold, silver etc. If power goes down you can’t take a gold bar to the supermarket and ask them to use their digital scale to shave off $55.75 worth to cover your groceries. If all power goes down we are bartering and fighting with rocks and sticks.
@vijjreddy yea I'm about 15 yes in, when gold was 1,200 and silver was 12. Since the last economic downturn, it's a good store of value, kind of like a saving account, but better
@kw6909 like you said "barter" if power goes down, so do grocery stores, gas stations, banks, we would have to lean on each other like a community, go to your local farmer, black Smith, carpenter, ect... gold and silver have been around for thousands years for a reason, besides we can't rely on the dollar, or bitcoin, so what do we have?
lol…physical portability isn’t an issue any more…what a foolish statement. This is why gold failed. It sucked at transferability. So we put all the gold into a pile and issued notes against pile. And then someone stole the pile.
This guy says he "trusts the political system to keep the dollar from undergoing double digit inflation anytime soon." Well this right here tells us he's pretty much a quack. Inflation is already way over 10%. Is he living under a rock? Does he not know that the inflation numbers are rigged? This whole interview was a waste of time. Bring on someone who has some real ideas. Turn the heat on these people David. I could tell by your humming and hawing that you disagreed with a lot of what he said. So what if you burn the guy and he does not come back. You don't want to be like Stansbury and some of these other channels that just keep bring the same "sleeper" people back to regurgitate the same old tired idea we've hear a million times.
1. Not once did he mention that deficit spending is responsible for inflation. It's just all the Fed,... which means this guy A. is a quack, B. a far left wacko and/or C. has an interest in gold some how.. If the gold standard were so great,.. we wouldn't have tried and gotten off of it several times in our history. Gold can't expand and contract with the needs of the economy. And why we had to abandon it. 2. Money doesn't have to be a store of value. Having to pay for something in a medium that has to have an equal value to the thing being bought is A. a barter and B. a waste of resources. C. if you consider it a currency bitcoin proves this. bitcoin has no intrinsic value. It pays no interest or dividends, It showed in 2020 it's not a hedge against inflation. Recently it showed it's not a hedge against geopolitical uncertainty when Israel was attacked, gold and oil rose and yields fell,.. whie bitcoin fell. It's very volatile so useless as a currency. It and other cryptos are created by guys in a garage. Which are ripe for corruption,.. just see FTX and SBF. I mean if you think fiat currency is bad,... cryptos are fiat currency to an exonential. And this guy is a professor of economics???? 3. Not once did he talk about reducing deficit spending or balancing the budget or a balanced budget amendment,.. but he's all for Rube Goldberg currencies that are worthless or have proven to fail in the past. This insane senile ole joe admin and the demcorats A. shut down the fossil fuel industry (the lifeblood of the economy, and then B, have continued to unnecessarily spend 50% MORE in 2021, 22, 23, 24,.. (all of it deficit spending adding trillions to the debt each year),...years after the pandemic is over,...... than was spent the year before the pandemic started,... and we're not even in a recession. That's what caused inflation to go to 9%. When Trump left office, the economy was growing at 6% with under 2% inflation. The Fed only reacts to bad fiscal policy with the few demand side tools it has. It doesn't putagunto senile ole joe admin and the demcorats' heads (and pull the trigegr unfortunately) and force them to steal from tax payers and deficit spend like drunken sailors to buy votes for demcorats. It didn't open the borders and allow millions to saunter in the bankrupt the welfare, the medical, the school systems not to mention medicare, medicaid, and SS. It didn't incompetently withdraw from Afghanistan and embolden putin to attack Ukraine drain more money from tax payers, disrupt supply chains, embolden china to attack Taiwan giving demcorats another excuse to drain the tax payers' treasury on repatriation (why should tax payers pay companies that make billions in profits each year to build plants in the US???),.. embolden Iran and hamas to attack Israel requireing more deficit spending The Fed didn't do any of this. The monetary shithole we're in is the result of abysmal fiscal and geopolitical policy. If it walks like a duck, looks like a duck and quacks,.. this professor is a goldbug quack. I bet he has a website somewhere where you can buy gold and he get's a commission or something.
i don’t understand bit either. Maybe the creator can explain it ? ..The US government owns billions of dollars worth of bitcoin - and whether it decides to hold or sell could have a big impact on the cryptocurrency's price. Public filings show Washington has seized over 200,000 tokens from cybercriminals since 2020, according to crypto firm 21 Its holdings are worth $5.5 billion in total, analysts estimated - making the US one of the world's largest bitcoin "whales", a term that digital-asset enthusiasts use to refer to individuals or groups that own large amounts of the crypto. Tokens seized from the online black market Silk Road, its founder James Zhong, and criminals who hacked the Bitfinex exchange back in 2016 make up a large amount of the government's bitcoin stash, per 21 co’s data.
Sorry David. This guy was full of it, and frankly under prepared to criticise forms of money. Case in point. He thinks gold is a sound money and explains that banks solves the issues with portability of gold. That’s how fiat money was allowed to be created!!!
Bitcoin has no backing. It is also very unstable. Study what money and currency is and then come back and discuss it. This is absolute nonsense! I have a BA in economics in case you are wondering.
1. Not once did he mention that deficit spending is responsible for inflation. It's just all the Fed,... which means this guy A. is a quack, B. a far left wacko and/or C. has an interest in gold some how.. If the gold standard were so great,.. we wouldn't have tried and gotten off of it several times in our history. Gold can't expand and contract with the needs of the economy. And why we had to abandon it. 2. Money doesn't have to be a store of value. Having to pay for something in a medium that has to have an equal value to the thing being bought is A. a barter and B. a waste of resources. C. if you consider it a currency bitcoin proves this. bitcoin has no intrinsic value. It pays no interest or dividends, It showed in 2020 it's not a hedge against inflation. Recently it showed it's not a hedge against geopolitical uncertainty when Israel was attacked, gold and oil rose and yields fell,.. whie bitcoin fell. It's very volatile so useless as a currency. It and other cryptos are created by guys in a garage. Which are ripe for corruption,.. just see FTX and SBF. I mean if you think fiat currency is bad,... cryptos are fiat currency to an exonential. And this guy is a professor of economics???? 3. Not once did he talk about reducing deficit spending or balancing the budget or a balanced budget amendment,.. but he's all for Rube Goldberg currencies that are worthless or have proven to fail in the past. This insane senile ole joe admin and the demcorats A. shut down the fossil fuel industry (the lifeblood of the economy, and then B, have continued to unnecessarily spend 50% MORE in 2021, 22, 23, 24,.. (all of it deficit spending adding trillions to the debt each year),...years after the pandemic is over,...... than was spent the year before the pandemic started,... and we're not even in a recession. That's what caused inflation to go to 9%. When Trump left office, the economy was growing at 6% with under 2% inflation. The Fed only reacts to bad fiscal policy with the few demand side tools it has. It doesn't putagunto senile ole joe admin and the demcorats' heads (and pull the trigegr unfortunately) and force them to steal from tax payers and deficit spend like drunken sailors to buy votes for demcorats. It didn't open the borders and allow millions to saunter in the bankrupt the welfare, the medical, the school systems not to mention medicare, medicaid, and SS. It didn't incompetently withdraw from Afghanistan and embolden putin to attack Ukraine drain more money from tax payers, disrupt supply chains, embolden china to attack Taiwan giving demcorats another excuse to drain the tax payers' treasury on repatriation (why should tax payers pay companies that make billions in profits each year to build plants in the US???),.. embolden Iran and hamas to attack Israel requireing more deficit spending The Fed didn't do any of this. The monetary shithole we're in is the result of abysmal fiscal and geopolitical policy. If it walks like a duck, looks like a duck and quacks,.. this professor is a goldbug quack. I bet he has a website somewhere where you can buy gold and he get's a commission or something.
Which do you think is the better money: gold, fiat, or Bitcoin? Comment below and don't forget to like this video and subscribe!
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Gold as its tangible
BITCOIN GAMING. XBOX AND PS5. IMO. PEACE.
Gold better money. Bch better currency. Not sure where btc fits in there...
BTC will be waaaaay better than gold as money, the main problem right now is volatility, that will dissipate over the next 10yrs or so leaving BTC to increase in value at a relatively stable rate forever, the BTC hard supply but infinite divisibility guarantees this.
bitcoin is the apex predator.
Another first class high quality discussion. This is the least I can do to offer you my support. Keep up the good works, David
Gold is money.
Money is gold
I agree :))
*shitty money.. imagine someone paying you with gold in today’s world. I would have to assume it is fake. Bitcoin can’t be forged and is verified on chain without the need of analytic equipment
Nothing else
Gold will always be worth approximately the same value as it has been for the last few thousand years, Bitcoin will appreciate in value rather than holding value. I agree Bitcoin is volatile at present but I’ll take the rocky road upwards instead of the flat value of gold or declining value of fiat.
Thanks for an informative interview. I appreciate Mr. White’s explanation of bit coin.
Interesting GOLD standard requires no fed. Now it makes sense why gold price is constantly squashed. I vote loose the fed
bitcoins logo is a real gold coin. thats irony....
Bitcoin is keeping the promise gold could not keep. Store of value that stays ahead of debasement of the fiat ponzi.
per sure.@@Fearzero
One ounce of gold is around 2K a ounce. How would that be lugging around pockets full of gold ?
How many people carry around 2K worth of fiat ?
Get over it !!! Paper Money don’t hold !!!
Shrinkage and output still affecting based on low demand boys. Just look at the automakers. Making less cars to maintain high prices.
What a great guest! Thanks
An excellent interview and guest, thanks David! I’m long precious metals and intend to purchase some bitcoin as a speculation. I love the idea of cryptocurrency but it’s too volatile and it makes me a bit nervous due to its intangible nature
1. Not once did he mention that deficit spending is responsible for inflation.
It's just all the Fed,... which means this guy
A. is a quack,
B. a far left wacko and/or
C. has an interest in gold some how..
If the gold standard were so great,.. we wouldn't have tried and gotten off of it several times in our history.
Gold can't expand and contract with the needs of the economy. And why we had to abandon it.
2. Money doesn't have to be a store of value.
Having to pay for something in a medium that has to have an equal value to the thing being bought is
A. a barter and
B. a waste of resources.
C. if you consider it a currency bitcoin proves this.
bitcoin has no intrinsic value.
It pays no interest or dividends,
It showed in 2020 it's not a hedge against inflation.
Recently it showed it's not a hedge against geopolitical uncertainty when Israel was attacked, gold and oil rose and yields fell,.. whie bitcoin fell.
It's very volatile so useless as a currency.
It and other cryptos are created by guys in a garage. Which are ripe for corruption,.. just see FTX and SBF.
I mean if you think fiat currency is bad,... cryptos are fiat currency to an exonential.
And this guy is a professor of economics????
3. Not once did he talk about reducing deficit spending or balancing the budget or a balanced budget amendment,.. but he's all for Rube Goldberg currencies that are worthless or have proven to fail in the past.
This insane senile ole joe admin and the demcorats A. shut down the fossil fuel industry (the lifeblood of the economy, and then B, have continued to unnecessarily spend 50% MORE in 2021, 22, 23, 24,.. (all of it deficit spending adding trillions to the debt each year),...years after the pandemic is over,...... than was spent the year before the pandemic started,... and we're not even in a recession.
That's what caused inflation to go to 9%.
When Trump left office, the economy was growing at 6% with under 2% inflation.
The Fed only reacts to bad fiscal policy with the few demand side tools it has.
It doesn't putagunto senile ole joe admin and the demcorats' heads (and pull the trigegr unfortunately) and force them to steal from tax payers and deficit spend like drunken sailors to buy votes for demcorats.
It didn't open the borders and allow millions to saunter in the bankrupt the welfare, the medical, the school systems not to mention medicare, medicaid, and SS.
It didn't incompetently
withdraw from Afghanistan and embolden putin to attack Ukraine drain more money from tax payers,
disrupt supply chains,
embolden china to attack Taiwan giving demcorats another excuse to drain the tax payers' treasury on repatriation (why should tax payers pay companies that make billions in profits each year to build plants in the US???),..
embolden Iran and hamas to attack Israel requireing more deficit spending
The Fed didn't do any of this.
The monetary shithole we're in is the result of abysmal fiscal and geopolitical policy.
If it walks like a duck, looks like a duck and quacks,.. this professor is a goldbug quack.
I bet he has a website somewhere where you can buy gold and he get's a commission or something.
Needs to be volatile to go up....
Read the bitcoin standard. If u want learn about something invest in it
Fiscal had an outsized impact on inflation. Not just qualitatively, but quantitatively too.
Great interview....it is very nice to have different professors and all types of people.
He hasnt answered a sinlge question with clarity :-( why did he appear on the show...
Hi David could you have Michael Hudson on to talk about the history of debt thank you for your time
Thank you for explaining the facts without emotion or bias.
Behind every green bill is a green-clad man with a gun.
Thanks 🙏🏾
Ridiculous number of ads. Come on David don't ruin your pod or guests with so many ads! Unreal!
Useless to have a discussion about sound money when you treat the government lies as if they were truth. You can only continue to be in error.
Let me help you with a real foundation rather than a goldbug platitude.
1. Not once did he mention that deficit spending is responsible for inflation.
It's just all the Fed,... which means this guy
A. is a quack,
B. a far left wacko and/or
C. has an interest in gold some how..
If the gold standard were so great,.. we wouldn't have tried and gotten off of it several times in our history.
Gold can't expand and contract with the needs of the economy. And why we had to abandon it.
2. Money doesn't have to be a store of value.
Having to pay for something in a medium that has to have an equal value to the thing being bought is
A. a barter and
B. a waste of resources.
C. if you consider it a currency bitcoin proves this.
bitcoin has no intrinsic value.
It pays no interest or dividends,
It showed in 2020 it's not a hedge against inflation.
Recently it showed it's not a hedge against geopolitical uncertainty when Israel was attacked, gold and oil rose and yields fell,.. whie bitcoin fell.
It's very volatile so useless as a currency.
It and other cryptos are created by guys in a garage. Which are ripe for corruption,.. just see FTX and SBF.
I mean if you think fiat currency is bad,... cryptos are fiat currency to an exonential.
And this guy is a professor of economics????
3. Not once did he talk about reducing deficit spending or balancing the budget or a balanced budget amendment,.. but he's all for Rube Goldberg currencies that are worthless or have proven to fail in the past.
This insane senile ole joe admin and the demcorats A. shut down the fossil fuel industry (the lifeblood of the economy, and then B, have continued to unnecessarily spend 50% MORE in 2021, 22, 23, 24,.. (all of it deficit spending adding trillions to the debt each year),...years after the pandemic is over,...... than was spent the year before the pandemic started,... and we're not even in a recession.
That's what caused inflation to go to 9%.
When Trump left office, the economy was growing at 6% with under 2% inflation.
The Fed only reacts to bad fiscal policy with the few demand side tools it has.
It doesn't putagunto senile ole joe admin and the demcorats' heads (and pull the trigegr unfortunately) and force them to steal from tax payers and deficit spend like drunken sailors to buy votes for demcorats.
It didn't open the borders and allow millions to saunter in the bankrupt the welfare, the medical, the school systems not to mention medicare, medicaid, and SS.
It didn't incompetently
withdraw from Afghanistan and embolden putin to attack Ukraine drain more money from tax payers,
disrupt supply chains,
embolden china to attack Taiwan giving demcorats another excuse to drain the tax payers' treasury on repatriation (why should tax payers pay companies that make billions in profits each year to build plants in the US???),..
embolden Iran and hamas to attack Israel requireing more deficit spending
The Fed didn't do any of this.
The monetary shithole we're in is the result of abysmal fiscal and geopolitical policy.
If it walks like a duck, looks like a duck and quacks,.. this professor is a goldbug quack.
I bet he has a website somewhere where you can buy gold and he get's a commission or something.
Central Banks don’t buy and store paper currencies or cryptocurrencies - they buy and store Gold.
Excellent guest
I wouldn't pay my rent in Gold or Bitcoin. They are both assets with stores of wealth and held for the longterm. Portions of the two used for major purchases and held in trusts over the longterm.
Who is ultimately benefiting from the "money growth"? especially now that the U.S.government is funding 2 wars?
Silver 🥈 baby 😃 💪 💪
Brics pay An alternative to Swift?
Gold to hit 2400 next year 🙂
Technically, Gold is Gold and hasn't changed. One ounce today is the same as one ounce 5,000 years ago. The dollar is losing value and will require $2,400 to buy the same once.
@@Sola_Scriptura_1.618gold is -42% vs m2 money supply since 2011. It's not keeping up with the fiat ponzi debasement.
@@Sola_Scriptura_1.618 yes I believe you can look at items such as a nice suit from 100 yrs ago. both times would cost you 1 oz. of gold.
Does ITrust also offer fiat? Im in need of fiat.
Ask for a loan at a bank…with good credit they give you free “fiat” from where there was none….poof…just like that…💸…infinite fiat can be born or made up through loans at ANY corner bank…
Good example of another old dude who doesn't understand Bitcoin. Humanity advances one funeral at a time.
I prefer gold !
I Trust, No one but myself. Self Custody #Bitcoin and Gold.
Bitcoin's unique attributes, including its fixed supply and transparency, could position it as a reliable metric for assessing value and potentially play a more significant role in the measurement of economic activities.
its fixed supply.. and there are HOW MANY Satoshi's on one BTC - ohh yes, 100,000,000 per coin.. so, 21.000.000 x 100.000.000 is 2.7e+16 - that should retain exclusivity for a few 100 years or so
When you hold a 1 oz Gold coin in your hand, you understand. Weights and measures.
good job i love these interviews with competent people
don't believe it....................Yes, the guys very intelligent - but he's basing all his theory on faked (by the FED and G'ments) numbers - where as ppl like Andy Shecktman and Robert Kiyosaki use real world info. big difference
Great interview!!😎
For those steeped in fiat all their 90 years like Munger and Buffett, who evolved to be super successful in that system regardless of how corrupt and ruled by greedy psychopaths, it will never be advantageous to them to even consider a more effective, efficient and fair money system that supports and even enforces ethics and less cheating of the people...
I'm surprised how myopic the discussion on bitcoin was. Bitcoin is trashed as not being "stable" -- but the measure of "stable" is the value of the currency PAIR of BTC/USD. He used the example of the tragedy of trying to pay your rent in bitcoin, but if your rent is EXPRESSED in bitcoin, there is no sudden shift in its "value." Of course, by definition NO asset will be "stable" in a trading pair with USD, and that's the POINT. The future of USD doesn't look good and we don't want to have a currency that tracks it. The whole discussion seemed lacking in depth to me and I'm not even a "currency guy."
Don't forget Turkey, Argentina, Venezuela.. Money printing is always about aggressive weaponizing dictators, always..
The size of the world economy is about 80trln USD. The whole value of ALL mined world in the world is max 10trln USD, and usable for money gold is about 2-5trln. The world cannot go back to the gold standard no more, we just grew too big, it is no longer possible. Good old days are gone, forget them, face the reality. Inflation is here to stay, and we have to adapt. The key is to keep it low and predictable at 2%.
Bitcoin is backed by hash rate / energy.
dollar (n.) “monetary unit or standard of value in the U.S. and Canada," 1550s, daler, originally in English the name of a large, silver coin of varying value in the German states, from Low German daler, from German taler (1530s, later thaler), abbreviation of Joachimstaler, literally "(gulden) of Joachimstal," coin minted 1519 from silver from mine opened 1516 near Sankt Joachimsthal, town in Erzgebirge Mountains in northwest Bohemia. German Tal is cognate with English dale. The spelling had been modified to dollar by 1600.
Gold
people who do not buy the next btc dip might miss out.
A medium of Exchange= Currency. Money is more than that. Money must be also a store of value. Fiat currency is a poor store of value since it is prone to fluctuating interest rates, government fiscal policy and trade imbalances. IMO Gold is best. BTC may eventually prove to be good money, however at this point it is far too volatile. Also BTC is completely depended on a network to be viable for transfer or payment. Fiat does not even enter into the argument of "money". Fiat is merely a form of "currency".
For the first time, I heard in this interview that money doesn't have to be a store of value. Other assets do that better (e.g., land, gold). That makes sense, too, which allows fiat to serve as money, a medium of exchange and unit of account. Maybe that's all that's required for widespread acceptance and use, as long as people hold their wealth elsewhere.
Perhaps the best book for an understanding of what money is I recommend The Creature from Jekyll Island by G. Edward Griffin. I believe the fellow in the interview was wrong and misleading in saying that fiat is a store of value. If you had just kept $1.00 US from its inception in 1913 (under your mattress)then today the purchasing power of that dollar would be roughly 2 cents. Hardly a store of value. Fiat is a form of currency and is being perpetrated as money.@@goldilocksminer8393
I like gold and btc. Gold has no physical competitor, Btc problem is it has a lot of tech competition and more coming $eth $link $pls. Btc mining also dominated by tradfi now so its not decentralized like gold is as held by all major govts. US govt can’t get their gold “hacked”
Gold is tested but not finite. BTC has all the attributes of sound money. Depends on trust. BTC ETF will move the needle.
Bitcoin is trustless, that's the whole amazing invention. It's a money where you don't have any intermediary to trust, only verify. No government, no corporation, no angry seagull, nothing.
1. Not once did he mention that deficit spending is responsible for inflation.
It's just all the Fed,... which means this guy
A. is a quack,
B. a far left wacko and/or
C. has an interest in gold some how..
If the gold standard were so great,.. we wouldn't have tried and gotten off of it several times in our history.
Gold can't expand and contract with the needs of the economy. And why we had to abandon it.
2. Money doesn't have to be a store of value.
Having to pay for something in a medium that has to have an equal value to the thing being bought is
A. a barter and
B. a waste of resources.
C. if you consider it a currency bitcoin proves this.
bitcoin has no intrinsic value.
It pays no interest or dividends,
It showed in 2020 it's not a hedge against inflation.
Recently it showed it's not a hedge against geopolitical uncertainty when Israel was attacked, gold and oil rose and yields fell,.. whie bitcoin fell.
It's very volatile so useless as a currency.
It and other cryptos are created by guys in a garage. Which are ripe for corruption,.. just see FTX and SBF.
I mean if you think fiat currency is bad,... cryptos are fiat currency to an exonential.
And this guy is a professor of economics????
3. Not once did he talk about reducing deficit spending or balancing the budget or a balanced budget amendment,.. but he's all for Rube Goldberg currencies that are worthless or have proven to fail in the past.
This insane senile ole joe admin and the demcorats A. shut down the fossil fuel industry (the lifeblood of the economy, and then B, have continued to unnecessarily spend 50% MORE in 2021, 22, 23, 24,.. (all of it deficit spending adding trillions to the debt each year),...years after the pandemic is over,...... than was spent the year before the pandemic started,... and we're not even in a recession.
That's what caused inflation to go to 9%.
When Trump left office, the economy was growing at 6% with under 2% inflation.
The Fed only reacts to bad fiscal policy with the few demand side tools it has.
It doesn't putagunto senile ole joe admin and the demcorats' heads (and pull the trigegr unfortunately) and force them to steal from tax payers and deficit spend like drunken sailors to buy votes for demcorats.
It didn't open the borders and allow millions to saunter in the bankrupt the welfare, the medical, the school systems not to mention medicare, medicaid, and SS.
It didn't incompetently
withdraw from Afghanistan and embolden putin to attack Ukraine drain more money from tax payers,
disrupt supply chains,
embolden china to attack Taiwan giving demcorats another excuse to drain the tax payers' treasury on repatriation (why should tax payers pay companies that make billions in profits each year to build plants in the US???),..
embolden Iran and hamas to attack Israel requireing more deficit spending
The Fed didn't do any of this.
The monetary shithole we're in is the result of abysmal fiscal and geopolitical policy.
If it walks like a duck, looks like a duck and quacks,.. this professor is a goldbug quack.
I bet he has a website somewhere where you can buy gold and he get's a commission or something.
Bitcoin and Kaspa ($KAS) Digital gold and Digital Silver
KAS !!! 🦾
I would say the comment ‘we trust the Bitcoin supply will remain consistent’ is wrong, we can prove the supply will remain consistent. It’s like saying you trust that 2+2=4.
I love your channel, but does there need to be a commercial every 2.5 min? I get it, it’s how it’s monetized. This is the only channel with this frequency of commercials. It because disruptive to the content when it’s perpetually interrupted. Maybe dial it back a touch.
IDONTTRUSTCAPITAL and IDontTrust anyone selling digital illusions of wealth
Inflation and deficit spending has been running riot for years . As for debt .
Going "back" to the gold standard is absurd. We are moving forward to Bitcoin.
After the next halving Bitcoin will have a lower inflation than gold. Bitcoin is the hardest, most stable money ever created. We know the issuance of it, it's built into the code. Bitcoin issuance makes it the least volatile money when you view it on the Bitcoin network. When you convert that wealth into shitty fiat of course the value fluctuates.
I think the issue is if you get BTC and someone hacks that business or you lose your wallet keys you lose it all on gold shares or physical gold it’s a lot harder to be scammed so I say gold!!!
I say u dont own any BTC. If you did u wouldnt sound so dumb
Sure, until someone breaks into your house and steals your gold. Your bitcoin is still safe.
I got btc on 25.mai.2024 price of 112k then a drop.. 1month chart.. personal scrypt made.. from start doing the same thing..this is last chance for every coin..
As soon as you talk about the Crypto Dumpster, unfortunately the credibility goes out the door.
Hehe, I predict Cardano ADA and SingularityNET AGIX taking over as the World's Reserve Currency and decentralized financial system
What makes for a good currency is availability, transferability and stability. BTC is 2 for 3. Gold is good for stability and availability. Corn needs to be pegged to gold, period.
Bitcoin will not only stabilize but will also continue to grow in a stable fashion infinitely due to its divisibility properties.
Stabilization doesn’t mean no growth, just low volatility.
Then the entity lies about the amount of gold they have. They fix the audits and whammy, we have why gold always fails.
Thinking of buying Canadian gold mine stocks?Please remember CANADA government sold all its gold years ago...so all gold companies could be exproprated if shit hits the fan....
What you ever go to a food store ???
Gold for sure. Bitcoin is still too new for me to consider.
@N-light-end-1🤣😂😅😅😆 t. gold boomer
Maybe you should ask the exact same questions to Lyn Alden
FEAR!
Really? 23:08
If only these old money people understood there are about 50 early day Bitcoin OG's that hodl 90% of the Bitcoin supply by mining it in 2009 on a regular PC....then im sure they would rather look at physical gold, because if Bitcoin goes to 1 million dollars you do not want these nerds to rule the world...
Bitcoin is the apex money
I hate to say it, but this guy was rather lackluster in his analysis
When supply chains fail, I'll laugh when you try to trade me gold or bitcoin for my gasoline, solar powered generators, non perishable food, water, ammo, guns, cigarettes, alcohol, weed, as those will be the best money. Thing is he is wrong about btc, kept my rent money in btc since 2013 now i dont have to worry about rent money. If the systems are up I want bitcoin as it will outperform gold. If the systems are down I dont want gold or bitcoin I want what I mention above.
Gold 1st, Bitcoin 2nd
they cant print enough goldbacks to keep up
Plan B = Just In case Strategy
Silver on the other hand takes up more space in your pockets. But it is worth over $20 a ounce at this time.
How much Money do people actually carry around with them ?
Maybe a tenth ounce of gold and 5 ounces of silver will give you 300 bucks. If you need more toss another ounce of gold in your pocket. That will
give you around $2300 bucks. Very easy to carry.
Bitcoin should be a store of value, it shouldn’t be used for payments. Nobody uses their Gold or silver for payments. Nobody uses their real estate investment for payments
No one uses gold for payments because it is not practical to do so. Unlike BTC. BTC can be store of value and medium of exchange.
@@EE-gy1kfEverytime you see a merchant accepting Bitcoin for payments, it is instantly converted to dollars in the backend. Nobody wants to use BTC for coffee and all the bs like the pizza guy who spent thousands of BTC in 2010 for Pizza.
BlackRock is not putting out an ETF because it expects users to spend it randomly, yes you can spend it. But just like Real estate, Gold, Art, you use them to store wealth. They are savings vehicles.
You use your Bitcoin to get dollars for spending.
Wealthy individuals do not sell their assets to spend dollars, you burrow against your assets and spend dollars. Assets are collateral
used guns!
14:18 Store of value is what makes money money. This dude doesn’t know what he is talking about.
He said money that is a bad store of value, is just not good money but doesn't stop it from being money. I agree with you; he is describing currency as a unit of exchange and a bad store of value. Money is both a good store of value and a unit of exchange.
its a Pity David. I noticed theres BTC & Gold Biased advertisements and sponsorships tagged to your videos lately for the sake of $$$$$$$. Your videos now seems mostly BTC goldbiased. i had been following u since Kitco and thought your channel has been Robinhood style and impartial giving us the TRUTHs thats why u left kitco.. i was wrong.
This guest seems less self serving than I'd imagined so good job. Can we acknowledge that the dollar has been a good currency historically and remains so into the present and that its demise is still to be witnessed? Certainly the storm clouds look darker than ever but the current alternatives are bitcoin and gold which each have their issues.
America has a gold backed cryptocurrency since 2015 call COEPTIS
The thing that scares me about bitcoin, is if our power grid goes down so does bitcoin
So even if you "take it offline"
No power = no bitcoin
Physical gold is still king
yes, but unless you can buy direct from comex or nymex, you will pay around 8% higher for coins, even 10% for desirable coins.. so the first 10% price rise won't give any profit, only whatever is above that... so unless your timeline is around 5, 10, 15 years - gold can be a gamble
The no power scenario is the same with fiat currency, gold, silver etc. If power goes down you can’t take a gold bar to the supermarket and ask them to use their digital scale to shave off $55.75 worth to cover your groceries.
If all power goes down we are bartering and fighting with rocks and sticks.
@vijjreddy yea I'm about 15 yes in, when gold was 1,200 and silver was 12. Since the last economic downturn, it's a good store of value, kind of like a saving account, but better
@kw6909 like you said "barter" if power goes down, so do grocery stores, gas stations, banks, we would have to lean on each other like a community, go to your local farmer, black Smith, carpenter, ect... gold and silver have been around for thousands years for a reason, besides we can't rely on the dollar, or bitcoin, so what do we have?
I get your opinion but if the whole world loses power, no one will care about gold. It will be food, bullets, and water people will want.
Bitcoin will become less volatile as the market cap grows. So don't brush it under the carpet as it's still an infant.
BTC is too dependent on Tether...scary if they house of cards falls down
lol…physical portability isn’t an issue any more…what a foolish statement.
This is why gold failed. It sucked at transferability. So we put all the gold into a pile and issued notes against pile. And then someone stole the pile.
This guy says he "trusts the political system to keep the dollar from undergoing double digit inflation anytime soon." Well this right here tells us he's pretty much a quack. Inflation is already way over 10%. Is he living under a rock? Does he not know that the inflation numbers are rigged? This whole interview was a waste of time. Bring on someone who has some real ideas. Turn the heat on these people David. I could tell by your humming and hawing that you disagreed with a lot of what he said. So what if you burn the guy and he does not come back. You don't want to be like Stansbury and some of these other channels that just keep bring the same "sleeper" people back to regurgitate the same old tired idea we've hear a million times.
Need to stop printing money
Goldbacks
Play the video, listen to how you say P in the mic. Please either move away from the mic or get a new one. Thanks.
What is Money? The best definition I've ever heard is... "Money is what you have left when you sell everything else."
Bad definition because today that would be cash, and cash is not money, it’s worthless.
@@logan4857 If it's worthless, you'll have no problem handing it to me then.
1. Not once did he mention that deficit spending is responsible for inflation.
It's just all the Fed,... which means this guy
A. is a quack,
B. a far left wacko and/or
C. has an interest in gold some how..
If the gold standard were so great,.. we wouldn't have tried and gotten off of it several times in our history.
Gold can't expand and contract with the needs of the economy. And why we had to abandon it.
2. Money doesn't have to be a store of value.
Having to pay for something in a medium that has to have an equal value to the thing being bought is
A. a barter and
B. a waste of resources.
C. if you consider it a currency bitcoin proves this.
bitcoin has no intrinsic value.
It pays no interest or dividends,
It showed in 2020 it's not a hedge against inflation.
Recently it showed it's not a hedge against geopolitical uncertainty when Israel was attacked, gold and oil rose and yields fell,.. whie bitcoin fell.
It's very volatile so useless as a currency.
It and other cryptos are created by guys in a garage. Which are ripe for corruption,.. just see FTX and SBF.
I mean if you think fiat currency is bad,... cryptos are fiat currency to an exonential.
And this guy is a professor of economics????
3. Not once did he talk about reducing deficit spending or balancing the budget or a balanced budget amendment,.. but he's all for Rube Goldberg currencies that are worthless or have proven to fail in the past.
This insane senile ole joe admin and the demcorats A. shut down the fossil fuel industry (the lifeblood of the economy, and then B, have continued to unnecessarily spend 50% MORE in 2021, 22, 23, 24,.. (all of it deficit spending adding trillions to the debt each year),...years after the pandemic is over,...... than was spent the year before the pandemic started,... and we're not even in a recession.
That's what caused inflation to go to 9%.
When Trump left office, the economy was growing at 6% with under 2% inflation.
The Fed only reacts to bad fiscal policy with the few demand side tools it has.
It doesn't putagunto senile ole joe admin and the demcorats' heads (and pull the trigegr unfortunately) and force them to steal from tax payers and deficit spend like drunken sailors to buy votes for demcorats.
It didn't open the borders and allow millions to saunter in the bankrupt the welfare, the medical, the school systems not to mention medicare, medicaid, and SS.
It didn't incompetently
withdraw from Afghanistan and embolden putin to attack Ukraine drain more money from tax payers,
disrupt supply chains,
embolden china to attack Taiwan giving demcorats another excuse to drain the tax payers' treasury on repatriation (why should tax payers pay companies that make billions in profits each year to build plants in the US???),..
embolden Iran and hamas to attack Israel requireing more deficit spending
The Fed didn't do any of this.
The monetary shithole we're in is the result of abysmal fiscal and geopolitical policy.
If it walks like a duck, looks like a duck and quacks,.. this professor is a goldbug quack.
I bet he has a website somewhere where you can buy gold and he get's a commission or something.
I like the bitcoin ❤
Lol this guy is an awkward interview
#Bitcoin 👌😎🤙
So… it seems that your guest really dont understand BITCOIN… stick to your lane
i don’t understand bit either. Maybe the creator can explain it ?
..The US government owns billions of dollars worth of bitcoin - and whether it decides to hold or sell could have a big impact on the cryptocurrency's price.
Public filings show Washington has seized over 200,000 tokens from cybercriminals since 2020, according to crypto firm 21
Its holdings are worth $5.5 billion in total, analysts estimated - making the US one of the world's largest bitcoin "whales", a term that digital-asset enthusiasts use to refer to individuals or groups that own large amounts of the crypto.
Tokens seized from the online black market Silk Road, its founder James Zhong, and criminals who hacked the Bitfinex exchange back in 2016 make up a large amount of the government's bitcoin stash, per 21 co’s data.
It’s amazing how someone who is probably very smart, has no idea what Money is. 🤦🏽♂️
PEPE is the best money
Scam.
Dude SHAVE !!!! Don Johnson and Miami vice is sooooooo done
Sorry David. This guy was full of it, and frankly under prepared to criticise forms of money.
Case in point. He thinks gold is a sound money and explains that banks solves the issues with portability of gold. That’s how fiat money was allowed to be created!!!
Cardano 🎉🎉🎉
Bitcoin has no backing. It is also very unstable. Study what money and currency is and then come back and discuss it. This is absolute nonsense! I have a BA in economics in case you are wondering.
Costs in hardware and electricity are the things physically backing Bitcoin
Fiat has no backing! Gold can be mined continually… but there will only ever be 21M btc…
Don't wait until you understand bitcoin to buy bitcoin.
One is an element dug out of the ground. One is just paper that can be manipulated. BTC isn’t the only thing that we place value to arbitrarily.
Is ₿itcoin unstable or the dollar you looking at its price in. The best performing asset of our lifetime and you gonna tell me its to unstable. 🤡
Interesting 😎😎😎😎😎
₿itcoin will rule em all-
♾️/21 million
1. Not once did he mention that deficit spending is responsible for inflation.
It's just all the Fed,... which means this guy
A. is a quack,
B. a far left wacko and/or
C. has an interest in gold some how..
If the gold standard were so great,.. we wouldn't have tried and gotten off of it several times in our history.
Gold can't expand and contract with the needs of the economy. And why we had to abandon it.
2. Money doesn't have to be a store of value.
Having to pay for something in a medium that has to have an equal value to the thing being bought is
A. a barter and
B. a waste of resources.
C. if you consider it a currency bitcoin proves this.
bitcoin has no intrinsic value.
It pays no interest or dividends,
It showed in 2020 it's not a hedge against inflation.
Recently it showed it's not a hedge against geopolitical uncertainty when Israel was attacked, gold and oil rose and yields fell,.. whie bitcoin fell.
It's very volatile so useless as a currency.
It and other cryptos are created by guys in a garage. Which are ripe for corruption,.. just see FTX and SBF.
I mean if you think fiat currency is bad,... cryptos are fiat currency to an exonential.
And this guy is a professor of economics????
3. Not once did he talk about reducing deficit spending or balancing the budget or a balanced budget amendment,.. but he's all for Rube Goldberg currencies that are worthless or have proven to fail in the past.
This insane senile ole joe admin and the demcorats A. shut down the fossil fuel industry (the lifeblood of the economy, and then B, have continued to unnecessarily spend 50% MORE in 2021, 22, 23, 24,.. (all of it deficit spending adding trillions to the debt each year),...years after the pandemic is over,...... than was spent the year before the pandemic started,... and we're not even in a recession.
That's what caused inflation to go to 9%.
When Trump left office, the economy was growing at 6% with under 2% inflation.
The Fed only reacts to bad fiscal policy with the few demand side tools it has.
It doesn't putagunto senile ole joe admin and the demcorats' heads (and pull the trigegr unfortunately) and force them to steal from tax payers and deficit spend like drunken sailors to buy votes for demcorats.
It didn't open the borders and allow millions to saunter in the bankrupt the welfare, the medical, the school systems not to mention medicare, medicaid, and SS.
It didn't incompetently
withdraw from Afghanistan and embolden putin to attack Ukraine drain more money from tax payers,
disrupt supply chains,
embolden china to attack Taiwan giving demcorats another excuse to drain the tax payers' treasury on repatriation (why should tax payers pay companies that make billions in profits each year to build plants in the US???),..
embolden Iran and hamas to attack Israel requireing more deficit spending
The Fed didn't do any of this.
The monetary shithole we're in is the result of abysmal fiscal and geopolitical policy.
If it walks like a duck, looks like a duck and quacks,.. this professor is a goldbug quack.
I bet he has a website somewhere where you can buy gold and he get's a commission or something.
E
P